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Self Directed 401k Plan Design

In designing a Self-Directed 401(k) retirement plan, your organization's primary objectives are taken into consideration to tailor a Self-Directed 401(k) plan that includes all tax benefits for your franchise or independent business. The design phase includes informal discussions to identify specific needs and requirements, budgeting restraints, and basic provisions. Tenet Financial Group can customize a Self-Directed 401(k) plan, using prototypes we have developed for easier facilitation, or amend a pre-existing plan. The following steps are taken in designing a Self-Directed 401(k) Plan:

  • Overview of your organization's history, type of business, management objectives, personnel policies, employee termination or turnover experiences, and any human resource factors that might affect the plan
  • Interpretation of employee information (provided by your organization) to determine benefits and contributions under different plan strategies
  • Review of allocations using various formulas and benefit projections for defined contribution plans
  • Determination of government compliance of the plan (if customized)
  • Design of plan specifications such as eligibility, vesting options, benefit or allocation formula, retirement dates, and distribution methods.